S&P/Global services PMI index versus a 46.8 versus 46.6 preliminary
S&P/global services business index The more closely followed ISM nonmanufacturing PMI index will be released at the top of the hour with expectations of a move back above the 50.4 from 49.2 last month. The nonmanufacturing business activity index is expected to rise to 54.5 from 53.5 last month. Source link
ISM Services PMI rebounds to 55.2 in January vs. 50.4 expected
ISM Services PMI in January rose back into the expansion territory. US Dollar Index clings to impressive daily gains above 102.50. The economic activity in the US service sector expanded at a robust pace in January with the ISM Services PMI rising to 55.2 from 49.2 in December. This reading came in better than the […]
Why NFTs saw $946 million in trading volume in January – the highest since June 2022
Non-fungible tokens registered $946 million in trading volume in January 2023, up 38% from December, and the highest on record since June 2022, according to an updated Feb. 2 report by DappRadar, which tracks and analyzes the activity of NFT marketplaces. Non-fungible tokens, which provide proof of ownership of a digital asset like online artwork, […]
Despite the rebound, the breadth of services expansion has still slowed – Wells Fargo
The ISM Service PMI released on Friday showed the index rose back above 50, into expansion territory. Analysts at Wells Fargo, point out that after just a single month under 50, the services ISM shot back up into expansion. However, they warn the breadth of services expansion has still slowed. Key quotes: “The slowdown in […]
AUD/USD refreshes day low below 0.7070 despite upbeat Caixin Services PMI
AUD/USD has dropped to near 0.7064 as the market mood has soured. The upbeat Caixin Services PMI at 52.9 failed to provide support to the Australian Dollar. An interest rate hike of 25 bps is expected from the RBA next week. The AUD/USD pair has printed a fresh day’s low at 0.7064 despite the IHS Markit has […]
Feds move to crack down on ‘excessive’ credit-card late fees
President Joe Biden is spotlighting new moves by the Consumer Financial Protection Bureau to cut excessive credit-card late fees that cost American families about $12 billion each year. The CFPB unveiled proposals that will potentially save Americans up to $9 billion a year by targeting late fees that are currently protected by an “expansive” immunity […]
It’s ‘pay’ time for buy now, pay later purchases—here are 5 ways to handle the debt
This article is reprinted by permission from NerdWallet. Chances are that your “buy now, pay later” bill from the holiday season will arrive soon or has already made its debut. If you’re not financially prepared to pay up, late fees or other charges can bury you deeper in debt. Circumstances can change over a matter […]
Banks Brace for More Consumers to Fall Behind on Their Loans
Delinquencies are rising, in some cases surpassing prepandemic levels, prompting banks to add to their rainy-day funds. Source link
UK January flash services PMI 48.0 vs 49.7 expected
Prior 49.9 Manufacturing PMI 46.7 vs 45.5 expected Prior 45.3 Composite PMI 47.8 vs 49.1 expected Prior 49.0 That’s a steep drop in UK services activity, with the headline reading slumping to a two-year low. There is a bit of reprieve in that manufacturing activity nudged higher but overall, the data highlights a further sustained […]
U.S. industrial output falls sharply in December, sparking talk of factory ‘recession’
The number: U.S. industrial production fell 0.7% in December, the Federal Reserve reported Wednesday. It is the biggest monthly decline since September 2021. The decline was steeper than economists expectations of a 0.1% decline, according to a survey by The Wall Street Journal. Output in November was revised down to a 0.6% drop, much worse […]